We are pleased to present our respected clients and business partners a brief overview of the main positive regulatory changes affecting the business environment in Belarus for July-August 2018.
Mandatory sale of hard currency export proceeds has been abolished
According to the relevant Decree of the Belorussian Leader (the Decree No 301 dd. 31.07.2018, effective since 03.08.2018), the BY businesses are no longer required to sell foreign currency proceeds derived from the exports of goods, works, services, property rights, and other objects on the domestic exchange market. Previously, almost all exporting companies were required to convert from 40 to 10% of export currency earnings to Belarusian rubles (BYN).
Visa-free staying regime for foreigners has been extended to 30 days
Starting from July 27, 2018, foreigners can stay in Belarus without a visa for 30 days (Presidential Decree dd.24.07.2018, No. 295, effective since July 27, 2018).
The visa-free entry regime applies only to cases where foreigners arrive to and depart from Belarus by aircraft through the State border checkpoint at the Minsk National Airport. Foreigners coming in and departing from Belarus with flights from Russia are not allowed to benefit from the visa-free regime.
Foreigners (except for Russians and citizens of certain other countries) who are going to stay in Belarus for five or more days should be registered with the local migration authority within 5 days from the date of entry. When staying in hotels, the registration of foreigners is carried out by the hotel administration by default upon check-in.
More information can be found on the following link.
Representative Offices of Foreign Companies
Since September 3, 2018, the procedure for opening and operating a Representative Office of a foreign companie in Belarus has changed (The Resolution of the Belarus Government dd. 30.05.2018 No. 408, effective from 03.09.2018).
Basic changes in legal treatment of Representative Offices are as follows:
- Permits for Rep Office activities – now that function is taken over by regional authorities – Mingorispolkom and Oblispolkom
- New templates of certain documents (applications, programs, etc.) have been approved
- Extended deadline for processing / checking the documents by authorities – 30 days
- Reporting (except for tax and other authorities) shall be made during 01 January – 01 March of the next year
- The HQ may apply to prolong the Rep Office activities starting from three months prior to expiration of the permit
- Certain extra documents (i.e. excerpt from trade register, PoA, etc.) now have to be filed with authorities in case of prolongation of the Rep Office activities
- Closed list of grounds for termination of the Rep Office activity have been established (based on a HQ decision, by registration authority and by the Supreme Court of Belarus).
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